This research represents the application of complexity theories to the study of strategic alliances in an emerging market context. The people, culture and communication issues of strategic alliances such as mergers and acquisitions (M&A), and international joint ventures (IJV) are a topic of concern for academics and practitioners. Much published research acknowledges the high failure rate of M&A and IJV and admits challenges in managing these changes. M&A and IJV are inherently complex changes but often managed using linear simplistic approaches. Therefore, it seems logical to view these complex changes using complexity approach. But little has been done to link M&A and IJV management with complexity theories. This research draws on work in complexity theories to better understand the emergence of M&A and IJV in their post-integration phase. Taking a case study approach, conditions of emergence posited by a dissipative structures model of complex systems – disequilibrium conditions, amplifying actions, recombination dynamics and stabilizing feedback; along with the legitimate and shadow system view of organizations – are used to explain M&A and IJV activity in an Indian pharmaceutical engineering firm. The findings suggest a match between the theories employed and what the empirical research discovered, empirically validating the theories to study M&A and IJV phenomena. The findings complement the theoretical perspectives on people, culture and communication issues of M&A and IJV and demonstrate that the complexity lens provides a comprehensive understanding of these changes.